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Cisco Systems doubles profit to 1.4 billion dollars
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  • SAN JOSE, California (AFP) Feb 08, 2005
    Cisco Systems, the computer networking giant, said Tuesday its quarterly net profit nearly doubled from a year ago to 1.4 billion dollars on strong sales growth.

    The profit for the second fiscal quarter to January 31 excluding one-time gains and losses matched Wall Street estimates at 22 cents per share.

    The earnings jumped 93 percent from the same period a year earlier when the profit of 724 million dollars was hit by a one-time accounting charge.

    Revenues for the world's biggest networking firm grew 12.3 percent from the period a year ago to 6.06 billion dollars.

    "This quarter's solid results, highlighted by record net income and continued order growth across our routing, switching, and advanced technologies, indicate continued product leadership and solid market momentum," said John Chambers, president and chief executive.

    "Our strategy uniquely differentiates Cisco from the rest of the industry by providing an integrated technology and business architecture perspective."




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